On July 14, the European Commission took up an extensive policy initiative designed to bring the European Union’s net greenhouse gas emissions down by a minimum of 55% (compared to levels from 1990) within the next decade. This slate of ‘Fit for 55’ reforms will not only expand the deployment of renewable energy sources and promote energy efficiency,

but will also speed up the transition to low-emission transportation and overhaul the EU’s emissions trading system to cover new sectors. The Fit for 55 proposals will also extend beyond Europe by slapping a border tax on high-carbon imports. 




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